The Reserve Bank of India on Monday said the fraud reporting module – Central Payments Fraud Information Registry (CPFIR) – for reporting payment frauds by scheduled commercial banks and non-bank Prepaid Payment Instrument (PPI) issuers will be migrated to DAKSH — RBI’s Advanced Supervisory Monitoring System from January 01, 2023.
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The central bank said this will streamline reporting, enhance efficiency and automate the payments fraud management process. Entities shall commence reporting of payment frauds in DAKSH from January 1, 2023.
In addition to the existing bulk upload facility to report payment frauds, DAKSH provides additional functionalities such as a maker-checker facility, online screen-based reporting, an option for requesting additional information, a facility to issue alerts/advisories, generation of dashboards and reports, etc, it added.
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